Hsbc Holdings PLC Purchases 8,357 Shares of Red Rock Resorts, Inc. $RRR

Hsbc Holdings PLC grew its position in Red Rock Resorts, Inc. (NASDAQ:RRR) by 34.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,355 shares of the company’s stock after purchasing an additional 8,357 shares during the period. Hsbc Holdings PLC’s holdings in Red Rock Resorts were worth $2,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RRR. Salomon & Ludwin LLC acquired a new stake in Red Rock Resorts in the 4th quarter valued at approximately $25,000. Kestra Advisory Services LLC acquired a new position in Red Rock Resorts during the 4th quarter worth approximately $27,000. Rockefeller Capital Management L.P. grew its stake in shares of Red Rock Resorts by 1,924.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 506 shares of the company’s stock worth $31,000 after acquiring an additional 481 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Red Rock Resorts by 53.8% during the 4th quarter. GAMMA Investing LLC now owns 752 shares of the company’s stock worth $47,000 after acquiring an additional 263 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Red Rock Resorts by 98.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,474 shares of the company’s stock valued at $91,000 after purchasing an additional 733 shares during the last quarter. 47.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on RRR. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $72.00 target price on shares of Red Rock Resorts in a report on Thursday, April 30th. Morgan Stanley set a $59.00 price target on shares of Red Rock Resorts in a research report on Wednesday, May 6th. Wall Street Zen downgraded shares of Red Rock Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research downgraded Red Rock Resorts from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Finally, UBS Group set a $75.00 target price on Red Rock Resorts in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Red Rock Resorts currently has an average rating of “Moderate Buy” and an average price target of $68.12.

Red Rock Resorts Stock Performance

RRR stock traded up $0.72 during trading hours on Friday, reaching $64.21. The stock had a trading volume of 477,221 shares, compared to its average volume of 716,029. The stock has a 50-day simple moving average of $58.77 and a 200 day simple moving average of $59.58. Red Rock Resorts, Inc. has a fifty-two week low of $50.52 and a fifty-two week high of $68.99. The stock has a market capitalization of $6.74 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 4.86 and a beta of 1.35. The company has a debt-to-equity ratio of 14.42, a current ratio of 0.81 and a quick ratio of 0.76.

Red Rock Resorts (NASDAQ:RRR) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.17). The firm had revenue of $507.32 million for the quarter, compared to analyst estimates of $505.63 million. Red Rock Resorts had a return on equity of 61.67% and a net margin of 9.21%.The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Analysts predict that Red Rock Resorts, Inc. will post 1.53 EPS for the current fiscal year.

Red Rock Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 15th. Red Rock Resorts’s payout ratio is 33.44%.

Red Rock Resorts Profile

Red Rock Resorts, Inc (NASDAQ: RRR) is a publicly traded gaming and hospitality company headquartered in Summerlin, Nevada. The company owns and operates a diversified portfolio of full-service casino resorts and neighborhood gaming properties in the Las Vegas valley. Its core business activities include resort hotel accommodations, casino gaming, food and beverage operations, entertainment and convention services designed to meet the needs of both leisure and business travelers.

The company’s flagship resort, Red Rock Casino Resort & Spa, features a full range of table games, slot machines, a luxury spa, convention space, multiple signature restaurants and live entertainment venues.